Metro Vancouver Home Sales Set A Record In 2021

Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2 per cent increase from the 30,944 sales recorded in 2020, a 73.6 per cent increase from the 25,351 homes sold in 2019, and a four per cent increase over the previous all-time sales record of 42,326 set in 2015.

Home Sales Activity Remains Up, Listings Down Across Metro Vancouver’s Housing Market

As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,428 in November 2021, an 11.9 per cent increase from the 3,064 sales recorded in November 2020, and a 1.9 per cent decrease from the 3,494 homes sold in October 2021.
read more→

Getting Lights at Lafarge ready to illuminate Christmas in Coquitlam

It takes dozens of city workers and volunteer more than a week to install tens of thousands of lights for the annual Lights at Lafarge Christmas display in Coquitlam.

Nov 20, 2021 6:52 AM By: Janis Cleugh

Thousands of little lights are going up around Lafarge Lake in anticipation of next weekend’s opening of Lights at Lafarge, an annual display at Town Centre Park in Coquitlam.

This month, city staff from the parks and recreation department as well public works joined employees from Star Illuminations in Port Coquitlam and nearly 1,000 Park Spark volunteers to string up the bulbs, and fabricate and install the holiday pieces for the winter event.

B.C.’s real estate market expected to ‘remain vigorous’ in 2022: BCREA

A new report said real estate sales in B.C. are expected to jump 29 per cent to more than 120,000 units this year, compared with 94,000 in 2020.

Home prices are expected to rise in 2022, but sales will take a dip, according to new data from the BC Real Estate Association.

A BCREA report issued Thursday said sales in B.C. are expected to jump 29 per cent to more than 120,000 units this year, compared with 94,000 in 2020.look towards ending single-family zoning like New Zealand?
read more→

Metro Vancouver Home Buyers Compete For Fewer Home Listings In October

Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in October 2021, a 5.2 per cent decrease from the 3,687 sales recorded in October 2020, and an 11 per cent increase from the 3,149 homes sold in September 2021.
read more→

Elevated Home Sale Activity Continues To Outstrip The Supply Of Homes For Sale In Metro Vancouver

Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021.

Last month’s sales were 20.8 per cent above the 10-year September sales average.
read more→

B.C. Women Entrepreneurs Have Spoken: They Want Better Access To Capital

Banks and other lenders must change their funding models to support female-owned businesses, a new survey from the Women’s Enterprise Centre shows

Want proof that women entrepreneurs have different funding needs than their male counterparts? Jill Earthy, CEO of the Women’s Enterprise Centre, offers a cautionary tale.

WEC began working with Vancouver City Savings Credit Union last June, when B.C. businesses were reeling from the early effects of the pandemic. “They recognized the need to have a loan product combined with the wraparound support services to help businesses, particularly women-led businesses, at that time,” Earthy says of Vancity. Recognizing that women entrepreneurs needed more than just funding in the form of a loan program, the credit union joined forces with her organization to offer wraparound support services.
read more→

Real Estate Board of Greater Vancouver forecasts “upward pressure on prices in the fall”

Greater Vancouver home buyers hoping to score a nice discount may be in a big disappointment.

Prices are expected to increase in the fall in the face of tight supply.

A third quarter market analysis by the real-estate board noted that “home price growth essentially flattened across Metro Vancouver in the summer”.

“Expect, however, to see upward pressure on prices in the fall as above-average sales volumes meet low inventory levels,” stated the report by the Real Estate Board of Greater Vancouver.
read more→

Summer sees home listing supply decline across Metro Vancouver

While home buyers have remained active in Metro Vancouver* throughout the summer, the supply of homes for sale has declined steadily since June.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021. Last month’s sales were 20.4 per cent above the 10-year August sales average. “August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied.” said Keith Stewart, REBGV economist. There were 4,032 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2021.
read more→

Central 1 Credit Union’s Chief Economist Forecasts Low Interest Rates To Continue

The chief economist of the trade association of B.C. and Ontario credit unions expects interest rates to remain low for some more time.

Bryan Yu with Central 1 Credit Union anticipates that the Bank of Canada will raise its interest-setting rate only toward the end of 2022.

Yu doesn’t see the bank “pulling the trigger too quickly”.

“Our view is that the bank is going to be more patient,” Yu told the Straight in a phone interview.
read more→